Address . Even though each insurer is collecting the same type of information, applications – whether on paper or electronic – can vary drastically among carriers. But some MGAs have concerns they’re being cut out of the process Life insurance carriers are taking a step away from their notoriously paper-heavy processes, as many are moving to adopt electronic insurance applications (known as “e-apps” or smart applications). Empire Life, for example, held a contest over the summer to encourage advisors to try out Fast & Full. The Canadian AssociatiDiscover more about Canadian Association of Independent Life Brokerage AgenciesGet real Scoops about Canadian Association of Independent Life Brokerage AgenciesMichael Williams works for Canadian Association of Independent Life Brokerage Agencies Michael Williams’s role in Canadian Association of Independent Life Brokerage Agencies is President Michael Williams’s email address is m***@bfggroup.ca Michael Williams’s business email address is m***@bfggroup.ca Michael Williams’s direct phone number is (647) ***-**** Michael Williams’s HQ phone number is (416) 931-2166 Michael Williams’s latest job experience is President at BridgeForce News Michael Williams works in the industry of Membership Organizations, Organizations. Map . 213, View the profiles of professionals named "Michael & Williams" on LinkedIn. In contrast, e-apps can only be submitted once all of the necessary information has been input into the application. Based on the quality and frequency of confirmatory data points, this metric represents the likelihood that a contact is employed where we say they are and that it is possible to reach them via email13-4 Alliance Blvd., Ste. Company Appointments . Canada.
“It’s a frustration for the brokers.” Reliability also is a concern. For example, Toronto-based Many advisors are likely to become more comfortable with the technology once it has an established track record, says Ray Adamson, chief customer officer with BlueSun: “For advisors, it’s a trust issue – trusting that the process is going to work and trusting that it’s not going to be cumbersome or onerous.” After having invested heavily in the new technology, insurance companies are eager to get advisors using e-apps – and some insurers are providing incentives to get advisors on board. For some advisors, the prospect of using a computer during client meetings may seem formal and impersonal, he adds.
“There are some business-processing issues as well as technical issues that companies need to take into account when they’re introducing [e-apps] so that the process can flow.” The prospect of MGAs being left out of the sales process is particularly concerning, as MGAs compete with insurers’ increasingly prominent direct sales channels, says Simon Tomlinson, CEO of Toronto-based “As the carriers create these direct electronic methods of submitting business, the implication is they’re actually opening up access for other channels – web channels and other marketing channels outside of independent distribution,” he says. Change can be daunting for advisors, especially when they’ve been doing business a certain way for many years, Tomlinson says.
Specifically, as advisors submit e-apps directly to the carrier rather than via their MGA, as is the case with paper applications, MGAs essentially have been excluded from the application process. “Otherwise, how do we monitor the activities of advisors?” Some insurers have indicated that they are already in the process of establishing these e-app feeds. BridgeForce Financial Michael Williams. Proposals would make alternative investments more accessible New Nova Scotia law aims to balance right to independence and protection Digital coach aims to support advisors rather than replace them New research questions the effectiveness of enhanced disclosure RIA with US$440 million in AUM acquired via CI subsidiary OCM Capital CFIB sentiment survey saw an uptick in confidence in July EI-like benefit scant on details but comes as the CERB program winds down In the same quarter, global ESG fund assets hit US$1 trillion, with positive Canadian flows, finds MorningstarShare this article and your comments with peers on social media Every day, get the financial news that matters in your inbox.
C/O BRIDGEFORCE FINANCIAL GROUP. L4W 4Z1. East Suite 130 Mississauga, ON L4W 4Z1. And CLIEDIS, for its part, is trying to help by developing industry standards around communication and other best practices that insurance carriers should have in place as they begin utilizing e-apps.
Map . Address . MICHAEL WILLIAMS COMMUNICATIONS INC. (Corporation# 3024911) is a federal corporation entity registered with Corporations Canada. Michael is the co-founder of Amira Health, a firm dedicated to creating engaging and connected digital health experiences. The incorporation date is April 20, 1994. And, in some cases, MGAs are not receiving any notification that an advisor has submitted an e-app until after the insurer has issued the policy. However, the quest to improve efficiency has created some unintended consequences in the independent distribution channel. “[E-apps] can certainly speed up processing and reduce the number of errors that happen in the paper world,” Sabatino says. View Michael Williams's business profile as President at Canadian Association of Independent Life Brokerage Agencies.
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